News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: -0.35% Oil - US Crude: -0.37% Gold: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/7dEtLof6us
  • The price of oil extends the series of lower highs and lows from the February high ($63.81) ahead of the (OPEC) (JMMC) meeting on March 3. Get your #crudeoil market update from @DavidJSong here:https://t.co/6hjIL77koa https://t.co/h2gQHVFvaB
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.57%, while traders in GBP/JPY are at opposite extremes with 66.37%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/nb2pDL6nuW
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.38% France 40: 0.24% Germany 30: 0.23% US 500: 0.00% Wall Street: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/VRWeokQ9gk
  • Schumer says Senate will take to stimulus bill this week - BBG $USD
  • The Canadian Dollar has failed a break below a critical support confluence we’ve been tracking for months now and leaves the bears vulnerable while above. Get your $USDCAD market update @MBForex here:https://t.co/YTFgmidyov https://t.co/xZcofFQWJP
  • AUD/USD sharply higher following last week's decline $AUDUSD https://t.co/cxrl9O6Jvi
  • The US Dollar has put in a very strong push since the Thursday lows – and for traders looking to fade that move, the long side of GBP/USD may be attractive. Get your $GBP market update from @JStanleyFX here:https://t.co/17J9kCb8ff https://t.co/N1zNhEWLHh
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.21% Gold: -0.71% Silver: -0.76% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0ayjP8t3rP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.57%, while traders in GBP/JPY are at opposite extremes with 66.37%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7IShY2t1tw
Crude Oil Rebound Stumbles, SPX 500 Rally Accelerates Anew

Crude Oil Rebound Stumbles, SPX 500 Rally Accelerates Anew

Ilya Spivak, Head Strategist, APAC

Talking Points:

Can’t access the Dow Jones FXCM US Dollar Index? Try the USD basket on Mirror Trader. **

US DOLLAR TECHNICAL ANALYSIS – Prices edged higher for a fourth consecutive day, with buyers seemingly on pace to set a new year-to-date high. Near-term resistance is at 11374, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis exposing the 50% level at 11422. Alternatively, a turn below the 23.6% Fib at 11315 opens the door for a challenge of the 14.6% expansion at 11278.

Crude Oil Rebound Stumbles, SPX 500 Rally Accelerates Anew

Daily Chart - Created Using FXCM Marketscope 2.0

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

S&P 500 TECHNICAL ANALYSIS – Prices continue to march higher after clearing resistance at 2051.00, the 23.6% Fibonacci expansion, with buyers aiming to challenge the 38.2% level at 2081.20. A further push beyond that targets the 50% Fib at 2105.60. Alternatively, a reversal back below 2051.00 on a daily closing basis targets the 2022.10-32.30 area marked by the 14.6% expansion and the September 19 high.

Crude Oil Rebound Stumbles, SPX 500 Rally Accelerates Anew

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS – Prices are edging upward en route toward resistance at 1212.23, the 38.2% Fibonacci retracement. A daily close above this barrier exposes a falling trend line at 1226.78. Alternatively, a reversal below the 1178.86-80.84 zone (December 2013 low, 23.6% Fib) targets the 14.6% retracement at 1161.49.

Crude Oil Rebound Stumbles, SPX 500 Rally Accelerates Anew

Daily Chart - Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS – Prices stumbled after trying to bounce as expected following the formation of a bullish Piercing Line candlestick pattern. A daily close below the 23.6% Fibonacci expansion at 78.95 exposes the 38.2% level at 77.32. Alternatively, a break above the 14.6% Fib at 79.96 sees falling trend line resistance at 80.91.

Crude Oil Rebound Stumbles, SPX 500 Rally Accelerates Anew

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES